Closed tomorrow for Anzac Day

Lest We Forget

A strong finish to a short week as the ASX 200 closed up 48 points to 7968 (0.6%). For the week we are up another 1.9%. A solid performance from the banks again with NAB up % and WBC rising %. The Big Bank Basket rose to $260.77 (+0.75%). MQG up another 1.2% as brokers upgraded post the Nomura deal. Fund managers picked up too, PNI up 2.6% and MFG rising 1.2%., GDG failed to touch the wall with its business update falling 14.9%. AMP feeling some love from brokers up 2.5%. ZIP also doing well as shorts covered. REITs better as an RBA rate cut beckons. At least according to WBC. Industrials relatively flat, tech better, WTC up 2.5% and the All-Tech Index up 0.6%. Healthcare saw gains with RMD doing well up 8.5% as it believes it is exempt from tariffs. The action again was in resources, BHP up 0.9% and FMG up 1.0%. Gold miners bounced back as bullion bounced and panic subsided. NEM quarterly helped and were up 3.5%, RRL up 4.1% with NST bouncing slightly. Shorts were being covered in uranium stocks again, PDN roaring ahead, up 12.1%, MIN up 5.9% and ILU up 2.4%. In corporate news, plenty of quarterlies dropping. PWH fell 5.7% as the CEO and founder is stepping back for medical leave. JHX is getting attention from Jim Chalmers on its move to redomicile without shareholder approval. On the economic front, WBC’s economist Luci Ellis says a 25bps cut in May is now on the cards. Asian market mostly better. 10-year yields at 4.24%.

HIGHLIGHTS

  • Winners: PDN, CU6, DYL, RMD, BOE, PYC
  • Losers: GDG, PWH, DBI, ADT, AEL, BVS
  • Positive Sectors: Gold miners. Iron ore. Banks. Healthcare. Uranium.
  • Negative Sectors: Oil and gas.
  • ASX 200 Hi 7984 Lo 7932 – Long weekend ahead.
  • Big Bank Basket: Rises to $260.71(+0.75%)
  • All-Tech Index: Up 0.6%
  • Gold: Rallies to $5233
  • Bitcoin: Slips to US$92425
  • 10-year yield steady at 4.23%.
  • AUD: Falls to 63.57c
  • Asian markets:  Japan up 0.4%, HK down 1.1% and China unchanged.
  • Dow futures down 114 Nasdaq down 60

MARKET MOVERS

  • PDN +12.1% kicks again as shorts continue to cover.
  • DYL +9.6% BOE +8.4% shorts covering.
  • RMD +8.5% says it will not be subject to tariffs.
  • CSC +7.0% copper stocks flying.
  • ZIP +6.4% good to see.
  • NMG +5.9% in demand gold junior.
  • A1M +5.9% Q3 conference call.
  • SX2 +5.9% drilling results 28.6m @10.3g/t
  • GDG -14.9% business update.
  • PWH -5.7% CEO steps down briefly.
  • ADT -3.6% not sure.
  • DRO -0.4% profit taking.
  • CTT -4.0% downgrades.
  • BOT -1.2% bumper Sodra sales revenues.
  • Speculative Stock of the Day: AVR +33.5% Half decent volume.

And finally…..

Somebody left me a note on my car to compliment me today. Apparently my parking was “fine”.

Clarence

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